Virtual wholesaling

[Jonathan Vese]

I'm a wholesaler from Vancouver WA. Closed my first ever deal in 2 weeks of sending out mailers. I've heard virtual wholesaling works really well and with my wife about to be on break for two months because she is a teacher, I thought it would be the perfect opportunity to look into that. Anyone have any ideas of how to virtually wholesale step by step? And also which markets are hot right now for wholesaling. Thanks

[James Reynante]

When I started virtual wholesaling, I first researched markets that would lend themselves to doing deals.  Personally, I like the southwest states (CA, AZ, CO, NV), plus Texas and Florida. Next, I use "List Service" companies to search for the counties/cities have lots of recently closed sales (last 3-6 mos), and then sort the list by zip code. The zip codes at the top of the list (lots of recent sales) are an indication that buyers want properties in those areas.  

Now that I know where buyers are looking, I start my marketing campaign to find motivated sellers. My VA scrapes FSBO's in the local market Craigslist, plus we send direct mail to homeowners in the hot zip codes that have lots of equity (70% or more). We used to only target absentee owners, but now we target all owners that meet the criteria.

Marketing is crucial and it must be consistent and happen like clockwork.  That is the key to keeping the deal flow going.